301.94
RESOLUTION RETAINING BANKING SERVICES OF
THE FIRST NATIONAL BANK OF GLENS FALLS
RESOLUTION NO. 301, 94
INTRODUCED By: Mr. Fred Champagne
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Nick Caimano
WHEREAS, the Town Board of the Town of Queensbury desires to
employ a bank to perform various banking services, and
WHEREAS, The First National Bank of Glens Falls has offered to
render said professional services, in accordance with their Bank
Quotation presented at this meeting, and
WHEREAS, the Director of Accounting Services has recommended
acceptance of the said Bank Quotation from The First National Bank
of Glens Falls, and
WHEREAS, the interest rates are slightly higher than the rates
of the next highest bank, and
WHEREAS, the accounts are currently at the First National Bank
of Glens Falls, and the Town has received good service, as well as
excellent investment rates, and
WHEREAS, the Town's main checking account (Accounts Payable)
will remain as a N.O.W. account, with the rate as shown in the
attached proposal, and
WHEREAS, the Town's main deposit account will also remain as a
N.O.W. account, with the rate as shown in the attached proposal,
and
WHEREAS, the Town's Fund accounts will remain as savings
accounts, with the rates as shown on the attached proposal, and
WHEREAS, the Town's Payroll account will remain at the Glens
Falls National Bank, and
WHEREAS, the term of the agreement is one year, with a one-
year extension at the Town's option, beginning July 1, 1994, and
WHEREAS, the Town can invest any idle funds at the best C.D.
rates available from the First National Bank of Glens Falls or any
other bank, and
WHEREAS, the Town may keep nominal deposits at other banks for
purposes such as obtaining B.A.N. and Bond quotes, maintaining
account relationships, etc.,
NOW, THEREFORE, BE IT
RESOLVED, that The First National Bank of Glens Falls is
hereby employed to perform various banking services as outlined in
their Bank Quotation presented at this meeting.
Duly adopted this 20th day of June, 1994, by the following
vote:
AYES: Dr. Wiswall, Mr. Caimano, Mrs. Pulver, Mrs. Monahan,
Mr. Champagne
NOES: None
ABSENT: None